Spanish mulling acquistions of leasing giant and bank

Spain's largest bank Banco Santander Central Hispano (BSCH) is seeking to purchase majority stakes in Poland's largest leasing company Europejski Fundusz Leasingowy (EFL) and domestic Invest-Bank. BSCH said it plans to acquire 60% of shares in EFL, which holds 15% of the local leasing market share, and at least 50% in Invest-Bank. EFL is currently controlled by the company's founder and president, Leszek Czarnecki, while Polsat television and its subsidiaries hold over 64% of shares in Invest-Bank. The Spanish investor, until now a major banking player in Latin America, says it is interested in Poland primarily because of its relatively large population, its upcoming accession to the EU and the fact that thus far few foreign investors have penetrated the market. The Spanish follow their Portuguese competition, as Banco Comercial Portugues is a strategic investor in BIG Bank Gdanski, while Banco Espirito Santo is one of Kredyt Bank's main shareholders. BSCH posted net profit of euro 2.26 billion in 2000. (Prawo i Gospodarka, pp.1,4) M.S.-C.